Should you be playing daily fantasy tournaments every night?
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Daily fantasy tournaments are the contests with the biggest prizes and the ones you want to win the most. Unfortunately, the probability of winning a tournament or even placing in the money is unlikely. Competing against thousands of players for a select few spots pins the odds against you.
With probability not in your favor and a financial loss the most likely result, how often you play in tournaments is actually quite individual-specific. Your approach in tournaments, however, should be determined by these following factors, each of which requires some legitimate forethought.
Acknowledging your tolerance for loss
Playing tournaments every night isn't for those who lack patience and are unwilling to deal with long stretches of defeat. Because of the unlikely possibility you place in a tournament, it's best to assume you'll be sprinkling in the odd winning lineup with a myriad of losing rather than racking up win after win. If these long and arduous losing streaks will get to you quickly, it's best to avoid tournaments.
Before you start consistently entering tournaments, it's best to do some introspection regarding your tolerance for these financial losses and the losing streaks. If these prospects intimidate you, constant tournament play should be avoided. Instead, devote your focus to cash games, and enter tournaments on nights when you feel you have a particularly strong lineup.
Being willing to sacrifice upside for progress
The appeal of tournaments is the possibility of making big-time money in just one night. That alone is going to lure numerous participants, whether they've thought about their tolerance for risk or not. But before you start enrolling in tournaments, another point to consider is your preferred style of financial gain.
Are you happy to plod along, making small but more consistent gains? Or, would you rather repeatedly swing for the fences? If you're looking for a basketball related comparison, think San Antonio Spurs versus the quick creation of a super-team.
If you prefer the conservative San Antonio approach, look to cash games for your daily fantasy intake and as a way to progressively build your bankroll. Your probability of finishing in the money is much greater, and your slight but more reliable payouts offer a steady approach to financial reward.
On the other hand, you can make up a weeks worth of cash game payouts with just one strong tournament finish. The upside of tournament play is built for those ready to take a more aggressive approach. Playing them each and every night is an option if this your preferred style, but of course, those large payouts are highly likely to be sandwiched by frustratingly long losing streaks.
Committing to the grind
Interest in tournament play should come with a strong overall interest in daily fantasy, season-long fantasy, or an in-depth knowledge of the specific sport. If you're just a casual fan, tournaments aren't for you. In actuality, they're built to target players like you. Placing highly in a tournament is extremely difficult and requires much more than luck. Not being up to date on player trends and news is the recipe for a quick waste of your entry fee.
For those into the strategy of daily fantasy, season-long fantasy, or those who follow league news closely, entering tournaments is much more suitable. Tournament play requires up to date player knowledge, the monitoring of injury reports, and can be greatly improved with matchup-based knowledge, an interest in advanced stats or player-specific splits.
Furthermore, tournaments are often littered with industry experts who devote hours of time and research to their lineup building process. These experts are also likely to craft multiple lineups, further increasing the difficulty you'll face in placing in any tournament pool. If you're not ready to put in at least some the work that these experts do, it will quickly show in your dwindling bankroll.